2015 Bond Election

Lewisville City Council has called a November 3, 2015, election for voters to consider a proposed $135 million bond package that includes street, park and public safety projects.

The package will be presented to voters in four ballot propositions:

$71.6 million for arterial and neighborhood streets around the city. Sample projects include completing Corporate Drive/Windhaven Parkway from Railroad Street to Plano Parkway; connecting Valley Ridge Boulevard to the new Corporate Drive; and replacing streets in multiple residential neighborhoods. The list of actual projects could change depending on traffic and development patterns, or if outside funding is secured for some of the sample projects.

$39.9 million for parks and trails, including a new multi-generational recreation center that would incorporate the current Memorial Park Rec Center and Senior Activity Center; improvements to Lewisville Lake Park day use areas and campground; and new hike/bike trails citywide.

$10.5 million for public safety facilities, including a new Fire Station #3 located closer to FM 3040 than the current station and closer to new developments in southwest Lewisville; a second-floor addition to the police administration building; and a hardened emergency operations center in the basement of Lewisville City Hall.

$13 million for an indoor aquatic facility that would be added to the new recreation center.

Some of the currently proposed projects also include between 1 and 2 percent of the project cost for public art incorporated into the project design (and approximately $208,825 in the streets proposition, and $384,216 in the parks proposition). This is the first time public art has been included in the initial planning for a Lewisville capital project.

The list of projects being presented to the voters was recommended by a Blue Ribbon Capital Projects Committee appointed by City Council after the Lewisville 2025 vision planning process was completed last year. All nine members of the Blue Ribbon Committee served on the 50-person Lewisville 2025 team, and many of the proposed projects also are recommended in the Lewisville 2025 vision plan.

Tax Rate Impact

If all four propositions are approved by voters, City officials have determined that a maximum property tax rate increase of approximately 1.8 cents would be needed to fund the full 10-year package. That would equate to an estimated $32.42 in additional property tax for the owner of an average-valued $180,132 home in Lewisville.

Stronger tax base growth or longer project timelines could reduce the tax rate impact. The debt service projection is based on a conservative estimate for future tax base growth of 3 percent per year for 10 years, and flat values after that. Actual tax base growth for the past 10 years has averaged 4.14 percent annually.